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Time for CFOs to Review Annual Budgeting

Time for CFOs to Review Annual Budgeting

With the end of the year quickly approaching, now is the appropriate time for chief financial officers to review their annual budgeting process, particularly with the uncertain economic situation around the world.

According to a recent Business Daily article, annual budgets can be

With the end of the year quickly approaching, now is the appropriate time for chief financial officers to review their annual budgeting process, particularly with the uncertain economic situation around the world.

According to a recent Business Daily article, annual budgets can be significantly affected by volatile exchange rates, limited growth prospects and inflation, factors that need to be carefully considered.

As such, planning ahead early for the following fiscal year is crucial, and chief financial officers bare the majority of the burden for ensuring their companies are in position to handle the adversity that may come their way.

Establishing a plan in advance is also critical because budget information is utilized to calculate forecasts and is shared with investors and analysts, according to the publication.

Despite the uncertain global economy, a recent survey of members of the CFO Alliance found that one-third of finance chiefs expect higher 2012 margins, with 55 percent anticipating earnings growth.

CFO World reports the most common economic concerns among CFOs included limited access to capital and a lack of consumer confidence.  

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